Board 8 > Stock Topic 22

(+) Yeah! (+)

Rolling in the crypto.

red sox 777 posted...

Leverage. Mining has costs, so if, just as an example, BTC needs to be at 20k for them to break even, then BTC moving from 30k to 50k would triple their profits, while BTC would only advance 67%.

From the previous topic just to comment on this.

While this is largely true (decreases and increases hit them harder than the actual coin) also remember that as the coins value goes up mining competition will (eventually) increase lowering their profit. And if it goes down the competition will (theoretically) decrease. Not to mention the halvening that happens every 4 years where each successful "mine" becomes worth half as much bitcoin. This happened recently for bitcoin though so wont be an issue for a few years

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I sold most of my GBTC to make room for more DNN oh well! Still plan to go long like 40 grand on it, hoping for a 50k average but won't surprise me if I end up having to pay a lot more!

Is anyone here smart enough to tell me whether these bitcoin and ethereum trusts are better or worse buys than just actually buying crypto itself on Coinbase or the like? Only reason I'm in these instead is because of no fees for trades (well besides like a $6 fee since they're OTC).

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StartTheMachine posted...

I sold most of my GBTC to make room for more DNN oh well! Still plan to go long like 40 grand on it, hoping for a 50k average but won't surprise me if I end up having to pay a lot more!

Is anyone here smart enough to tell me whether these bitcoin and ethereum trusts are better or worse buys than just actually buying crypto itself on Coinbase or the like? Only reason I'm in these instead is because of no fees for trades (well besides like a $6 fee since they're OTC).

Depends on how long you want to hold. Those funds are likely charging a management fee that is taken over the course of a year. If you plan on holding 5+ years those fees are likely going to end up being higher than the transaction fee for holding the coin. Conversely those management fees won't hit as hard as transaction fees if you are making a lot of short term trades

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Colegreen_c12 posted...

Depends on how long you want to hold. Those funds are likely charging a management fee that is taken over the course of a year. If you plan on holding 5+ years those fees are likely going to end up being higher than the transaction fee for holding the coin. Conversely those management fees won't hit as hard as transaction fees if you are making a lot of short term trades

Interesting...crypto is maybe the only thing I can imagine myself holding for that long. Thanks for this info! I'll look more into this soon.

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Keep in mind mining bitcoin actually becomes more difficult by design as more and more of it gets mined out of the system

So while the value of bitcoin going up would help them, they get less coins over time unless they're constantly using the profits to better their operation and mine harder.

Also to me it's less about "if" and more about "when" the bitcoin will regress, and how much of Riot's value is based on growth vs current value (if bitcoin is expected to go to a million they're a lot more lucrative than if it freezes at $50k) of coin mining.

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Lopen posted...

Keep in mind mining bitcoin actually becomes more difficult by design as more and more of it gets mined out of the system

Just to clarify mining difficulty increases due to competition not due to passage of time. Assuming equivalent competition the difficulty could stay stagnant for 10 years.

What does happen is each successful "mine" (or block) becomes worth less. Similar but a little bit different since that only happens once every 4 years when it halves and the next one is years away

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https://www.cnbc.com/2021/02/17/bitcoins-next-resistance-level-isnt-until-170k-says-trader.html

Welp! DNN hurry and 3 or 4x the next month or two thanks

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So there's only a 2% premium for GBTC, and it's better to think of it less as a premium and more as a spread between the share price of GBTC and the market value of the coin in the trust. Not bad at all. Think I'd be better off holding here.

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great day for crypto

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Why does halving occur every four years?

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So that there can be another 100+ years of mining before all the Bitcoins are mined
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I thought Bitcoins can be generated, but it sounds like there's a finite amount of them

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So we can pollute more

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I keep on buying "the dip" of AAPL every day
At this rate I am going to be all in on AAPL and get bankrupt

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Buying the dip on already wildly overpriced stocks seems dangerous

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DFV getting sued

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Literally despise our government.

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I think I am going to shift at least some of my crypto from Coinbase to Gemini soon. It's kind of a no-brainer if I can get 3-7% interest vs 0%...

Looks like another bloodbath day

GameStonk posted...

I think I am going to shift at least some of my crypto from Coinbase to Gemini soon. It's kind of a no-brainer if I can get 3-7% interest vs 0%...

Really, this is a thing?

FPVD is not looking like a good big move. Well, that's why 75% of my money is in index funds.

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Just hoping FPVD and DNN go up a ton on a random day.

Holy mother of dumps on FPVD. Kinda had a feeling short term would be bad after seeing all the negative sentiment on stocktwits. I knew I should have sold everything yesterday and gotten back in today lol

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Sunroof posted...

Really, this is a thing?

Different tokens have 'Staking' which is something you can enable in Coinbase as well. And it essentially just means that by holding a stake in that token you will generate an interest at whatever rate they have set. Different sites have different tokens that they provide interest for and different ways of distributing it.

The one that comes to mind first is Algorand. On Coinbase you received 6% annually for staking Algorand, but it was calculated based upon hourly snapshots of your balance and distributed daily. On Binance they provide "8-10%" for staking Algorand, but it is distributed monthly instead.

And looking at Gemini it looks like the 7.4% interest being advertised is specifically for Filecoin with other tokens being available at different rates.

So it isn't as simple as "gemini provides interest and coinbase does not". It depends on which token you are talking about for which exchange.

Here is the page for binance rates:

https://www.binance.us/en/staking

Between XTZ, ATOM and ALGO you can pick your favorite in terms of long term viability and get a pretty solid rate of return.

Now Gemini has Bitcoin Cash, but I'm not sure how closely Bitcoin Cash is tied to the price of Bitcoin (would need to do more research), but that might be an attractive option on Gemini since staking bitcoin itself doesn't seem possible anywhere.

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How do I stake Bitcoin and Ethereum on Coinbase? Or does it do it automatically?

Forceful_Dragon posted...

Now Gemini has Bitcoin Cash, but I'm not sure how closely Bitcoin Cash is tied to the price of Bitcoin (would need to do more research), but that might be an attractive option on Gemini since staking bitcoin itself doesn't seem possible anywhere.

They offer 3% interest on Bitcoin

Sunroof posted...

How do I stake Bitcoin and Ethereum on Coinbase? Or does it do it automatically?

If you have it open on the computer go to your portfolio and on the right side of the web page is a drop down list that says "Rewards" that shows your balances for what can be staked.

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Damn it doesnt show for Bitcoin or Ethereum. Just random ones.

DNN and FPVD costing me nearly $10k in losses as of now. Jesus.

Welp everything in my portfolio except AVCTW is on hella discount right now. And yeah, I'm down all 14k of my gains made on Tuesday. Feels bad man. But oh well, stay patient and we shall overcome

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Oh never mind AVCT is also having a red day now lmao

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Sunroof posted...

Damn it doesnt show for Bitcoin or Ethereum. Just random ones.

Depending on your state, you will need to use Gemini or BlockFi.

I just transferred my Chainlink to Gemini to get a ~4.5% interest yield (in LINK!). I have yet to hear from anyone what the downside of this is, but it seems like such a no-brainer.

Yeah no worries some days are red. Im down a few grand outside of crypto (so overall up)

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This is actually making me reconsider allocating my funds from the Coinbase IPO. There just seem to be too many companies with 300% growth recently that I haven't gotten in on, though that is obviously a foolish thing to expect.

again, if you want the penny play, pvdg has made me a fuckton and appears to be basing a bit for a potential next leg up. I've already sold out a fair bit for large profits (was buying in the .0015 to .003 range, sold at 7 and 9.5 cents), but I think this could be the next otc that has that massive run.

Adding to GRWG on this dip as well, been buying since 5 dollars back around the start of the pandemic.

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GameStonk posted...

I just transferred my Chainlink to Gemini to get a ~4.5% interest yield (in LINK!). I have yet to hear from anyone what the downside of this is, but it seems like such a no-brainer.

I've seen multiple articles singling LINK out as a token where a price correction is predicted to occur in the near future. There are a couple on the other end saying the correction might be further off, but even those agree a correction is coming. Just something you might want to look into.

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Forceful_Dragon posted...

I've seen multiple articles singling LINK out as a token where a price correction is predicted to occur in the near future. There are a couple on the other end saying the correction might be further off, but even those agree a correction is coming. Just something you might want to look into.

I didn't mean the downside of Chainlink, I meant there seems to be no downside in keeping crypto in an interest-yielding account vs coinbase.

Metal_DK posted...

again, if you want the penny play, pvdg has made me a f***ton and appears to be basing a bit for a potential next leg up. I've already sold out a fair bit for large profits (was buying in the .0015 to .003 range, sold at 7 and 9.5 cents), but I think this could be the next otc that has that massive run.

Seems like I have already missed the boat tbh

Can I transfer my Bitcoin and Ethereum from Coinbase to Gemini? I dont want to lose my entry price when switching to Gemini.

Metal_DK posted...

again, if you want the penny play, pvdg has made me a fuckton and appears to be basing a bit for a potential next leg up. I've already sold out a fair bit for large profits (was buying in the .0015 to .003 range, sold at 7 and 9.5 cents), but I think this could be the next otc that has that massive run.

Adding to GRWG on this dip as well, been buying since 5 dollars back around the start of the pandemic.

I am interested in penny plays but am down $10k from the other two. I just sold AAPL and TSLA for a 10% loss because I want to go in other stocks after these past two red days. Are you recommending the above two for end of day?

GameStonk posted...

Seems like I have already missed the boat tbh

Its possible, but the chart appears like its basing here for another leg. Idk

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Sunroof posted...

Can I transfer my Bitcoin and Ethereum from Coinbase to Gemini? I dont want to lose my entry price when switching to Gemini.

Yeah there is just a minimal transfer fee from Coinbase. But, again, I have yet to see any reason not to do this. It's just free money.

Sunroof posted...

I am interested in penny plays but am down $10k from the other two. I just sold AAPL and TSLA for a 10% loss because I want to go in other stocks after these past two red days. Are you recommending the above two for end of day?

GRWG is at 55 dollars a share, its not a penny play. Its just a longer hold that I like and have been adding here and there for the past year.

PVDG ive been in since September, but is obviously a short term hold. I've already made a ton on it and sold out a fair bit for profits so I have a bit more of a easy feel on it, but it appears to be basing for its next leg up with somewhat of a bullish pennant forming on the daily chart. No guarentees that it goes up, but the catalysts seem like it should have more to it. Penny plays are obviously very risky, but so is buying gamestop at 300 dollars a share

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GameStonk posted...

Yeah there is just a minimal transfer fee from Coinbase. But, again, I have yet to see any reason not to do this. It's just free money.

Can you walk me through this? I see an option to transfer to another wallet, then it wants me to put on my email. Is that what I do? How does it then go to Gemini?

Metal_DK posted...

PVDG ive been in since September

That's incredible timing. Where did you hear about it?

Metal_DK posted...

GRWG is at 55 dollars a share, its not a penny play. Its just a longer hold that I like and have been adding here and there for the past year.

PVDG ive been in since September, but is obviously a short term hold. I've already made a ton on it and sold out a fair bit for profits so I have a bit more of a easy feel on it, but it appears to be basing for its next leg up with somewhat of a bullish pennant forming on the daily chart. No guarentees that it goes up, but the catalysts seem like it should have more to it. Penny plays are obviously very risky, but so is buying gamestop at 300 dollars a share

Seems I missed the boat too.

Sunroof posted...

Can I transfer my Bitcoin and Ethereum from Coinbase to Gemini? I dont want to lose my entry price when switching to Gemini.

Depending on the token coinbase might charge a free.

When I was transferring my free money off of CoinBase first I tried to send it as MANA to my binance wallet, but coinbase was going to take some 50% (!!). I converted it to XLM and sent that instead and it didn't take anything. So I don't know if that was a weird issue with MANA or something on coinbase's side.

But regardless you wouldn't lose an "entry price" but you are essentially transferring the tokens themselves. If you have 0.5 bitcoins and you move those into a different wallet then you'll still have 0.5 bitcoins.

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Sunroof posted...

Can you walk me through this? I see an option to transfer to another wallet, then it wants me to put on my email. Is that what I do? How does it then go to Gemini?

You have to set up a Gemini account first. Once you do that it's super simple.

GameStonk posted...

That's incredible timing. Where did you hear about it?

Twitter had been chattering about their new CEO and how he has turned other stocks into big runners before. Took a gamble mostly

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